5 Steps in Brand-Influencer Collaborations

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5 Steps in Brand-Influencer Collaborations
Influencer text on the golden colored mesh board. Social networking concept

Launching brand collaborations with influencers is an excellent method to advertise your business. Influencer campaigns can result in more sales, awareness, new followers, and more.

However, as with every marketing campaign, these collaborations require meticulous planning, diligent follow-ups, as well as thorough analysis following. Let’s take a look at the 5 steps involved in collaborations with brands and influencers.

Step 1: Define your strategy

There must be a defined goal for your collaboration with your brand. What are the goals you’d like social media influencers to support you with? Choose your goal, whether it’s branding or followers, engagement, sales, or any or more of the influencer marketing benefits .

Next, you must identify who your target audience is. Consider your buyer personae and the characteristics that define them, such as their gender, age, location, languages, and interests . Conduct some research to determine the places where they spend their online time, so that you can determine which network is best suited to your marketing campaign.

Then, think about your resources and plan out the logistics for your marketing campaign. This includes items like budget as well as deadlines and content types.

The budget can be broken down into expenses you’ll pay for marketing tools and services and also what you can invest in incentive for influencers. This incentive figure will help determine the kind of influencer you can work with.

Step 2: Identify the most relevant influencers for your brand

When you’re planning collaborations with brands it is important to identify influencers who fit your brand’s specific needs. Every brand is distinct with its own vision, style and values.

So, any influencer who is working with you must uphold the same values. If you’re a slow fashion company that is eco-conscious for instance, you should seek out an influencer who is in the same field.

Also, keep in mind that different influencers charge different rates for their services. These fees are affected by several aspects, including follower count or engagement rate, as well as the type of content. In general, we can divide influencers into the following levels:

● Nano influencers, 1-5K

● Micro influencers, 5-50K

● Medium influencers, 50-100K

● Macro influencers, 100K-1M

● Mega influencers, 1M+

Many brands, particularly small companies, can benefit most from micro and nano influencers, who offer great ROI. The investment here is low, as you can usually pay them with free products and sometimes a fee of a few hundred dollars. But despite their relatively small followings, they have the highest average engagement rates of all influencers.

Don’t forget to review the influencer’s profile performance, too. Here’s a short list of the metrics you need to be looking over:

● Growth of followers over time – Is it natural or are there sudden leaps which could be a sign of fake followers?

● Engagement rate compared to peers – If engagement rate is very low or unusually high, look into the reason.

● Average views – For video content.

● Followers to following ratio – to determine if they’re employing this follow and unfollow method.

● Audience demographics – Ensure that they are in the same demographics as your audience.

● Audience authenticity – Run an audit on fake followers to ensure that their audience is genuine.

Step 3: Negotiate and close the deal

Find influencers that match the criteria of your campaign and contact them. If they’re interested in working with you, negotiate the agreement.

During this stage, you’ll need to resolve important issues like payment and deadlines, as well as decide if you’ll need an agreement. A contract is typically only needed when some sort of financial cost is involved.

You should also go over the guidelines for publication you would like the influencer to follow. For instance:

● Brand hashtags or brand mentions you’d like to be used

● The aspects of your product or company you would like to highlight

● General guidelines for aesthetics, such as certain colours or settings you would like influencers to employ

However, give influencers creative freedom when producing content. They understand how to reach their followers and let them do it without micromanaging them. Otherwise you risk the content being perceived as fake and more like an advertisement than organic.

Step 4: Keep track of the campaign and its media

If influencers are ready to publish, make sure you’re also prepared to begin capturing the results and media. The more data you can gather to analyze, the more insight you’ll gain into your accomplishments and mistakes.

To collect media, establish an approach that is suited to the quantity of influencers involved in your campaign. If you’re working with only a handful, it’s possible to keep track of their accounts regularly and download their media that is relevant to your campaign.

But when you’re working with lots of influencers, it could turn into a burden. If you’ve asked them to make use of hashtags or brand mentions, you should see their content when they’ve been properly applied. However, you might need to follow up with influencers who did not include your hashtags.

In terms of results, collect data from everywhere that you are able to: Analytics software as well as e-commerce platforms and influencers themselves. Influencers have personal information regarding their content, such as impressions, that you can request.

Step 5: Analyze your results and measure success

After the campaign is over the time has come to assess the success of your campaign. If you’ve succeeded or not is contingent on the goal you set and the amount of money you put into it.

If, for instance, you spent $100 on an influencer, and they helped you earn $200 in sales, you’ve definitely made a profit. Alternatively, if you spent $100 hoping to get 20,000 impressions, but actually got 40,000, you’ve also proved successful as you’ve cut price per impression.

Be open-minded here. You may not have achieved exactly what you wanted to. But consider the many benefits that you received from the campaign. Think about things like the content created for the campaign, any publicity as well as social sharing you earned, as well as the benefits of identifying long-term partners.

Finally, try to find ways to make your campaigns more effective the next time around. Going through all your results may reveal strategies, niches, or content types that worked particularly well but that you hadn’t planned on beforehand.

Conclusion

The process of establishing a brand collaboration requires some planning and work to locate the most relevant influencers. But when done right this strategy gives you a real and natural way to connect with your target audience.

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